I welcome the cancellation of activity by the Regeneration Investment Fund for Wales (RIFW) as currently constituted. For over a year, I have been voicing my concerns about why the taxpayer has lost millions of pounds in the mis-selling of pieces of land.

Openness and transparency are critical in rooting out wrongdoing from public life and delivering value for money for hard-pressed taxpayers.

Selling off large pieces of valuable land in private deals was never going to deliver value for money for the public purse and it is vital that this Labour Government learns the lessons.

Investigations are still on going, and I will be asking serious questions about why it has taken this long for this decision to be taken given how long serious concerns have been raised.